Central Banks Should Press Ahead With Rate Rises Despite Bank Pains, Says OECD

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The Federal Reserve and other leading central banks should keep raising interest rates to tame stubbornly high inflation despite strains in the banking system and market turbulence, the Organization for Economic Cooperation and Development said Friday.

Worries about inflation were underlined Friday by figures showing wages in the eurozone rose at the fastest pace on record as 2022 drew to a close.

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